Walker Selected for Rockwell Automotive Spin-Off Board
16 July 1997
Walker Selected for Rockwell Automotive Spin-Off Board; Former Chairman and CEO of M.A. Hanna is Seventh Member Selected for BoardSEAL BEACH, Calif., July 16 -- Rockwell International Corporation today announced that Martin D. "Skip" Walker would join the board of directors of the new Rockwell Automotive company, expected to be spun off by the end of September 1997. Walker, 65, had been chairman and chief executive officer of M.A. Hanna since 1986 before retiring as CEO last December and chairman last month. Walker, who has 18 years of automotive experience with General Motors and American Motors, served in Rockwell's automotive business for over 14 years. He was president of Rockwell's Automotive business from 1978-1982 and corporate executive vice president of Rockwell from 1982-1986. "I am extremely pleased that Skip Walker has agreed to join our board of directors," said Larry D. Yost, president of Rockwell Automotive. "Skip brings to our board the experience of leading M.A. Hanna's transition to a company focused on growing markets, as well as his many years in leadership positions in the automotive industry." Yost added, "Skip joins a group of seasoned business leaders whose advice and counsel will be of critical importance as our new company expands globally." Walker is the seventh member chosen for the board of the new Rockwell automotive company. Last month, Rockwell announced that the members of the board of the new automotive company would include Yost, the current president of Rockwell Automotive, as chairman and CEO; Joseph B. Anderson Jr., chairman and chief executive officer of Chivas Products Ltd.; Donald R. Beall, Rockwell's chairman and chief executive officer; John J. Creedon, former president and chief executive officer of Metropolitan Life Insurance Company; Charles H. Harff, a consultant to Rockwell who previously served as Rockwell's senior vice president, general counsel and secretary and Harold A. Poling, former chairman and chief executive officer of Ford Motor Company. Rockwell Automotive, with 1996 sales of approximately $3.1 billion, is a world-leading supplier of a broad range of components and systems for commercial, specialty and light vehicles. Rockwell Automotive consists of two global businesses: Heavy Vehicle Systems, a leading global supplier of drivetrain systems and components for medium- and heavy-duty trucks, trailers, off-highway equipment and specialty vehicles, including military, bus and coach, and fire and rescue applications; and Light Vehicle Systems, a major supplier of roof systems, door systems, access control systems and seat adjusting systems, electric motors and electronic controls, suspension systems and wheels for passenger cars, light trucks and sport utility vehicles. Last March, Rockwell announced that it planned to establish its automotive component systems businesses as a new, separately traded, publicly held company. The formation of the new company is expected to be completed by the end of September 1997. Rockwell is a global electronics company with leadership market positions in industrial automation, semiconductor systems and avionics and communications, with projected fiscal 1997 sales of approximately $8 billion and 44,000 employees. Rockwell Website: http://www.rockwell.com SOURCE Rockwell International Corporation